Private Management Group Inc. Acquires 55,033 Shares of MarineMax, Inc. (NYSE:HZO)

Private Management Group Inc. boosted its holdings in MarineMax, Inc. (NYSE:HZO - Free Report) by 11.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 534,023 shares of the specialty retailer's stock after purchasing an additional 55,033 shares during the period. Private Management Group Inc. owned about 2.39% of MarineMax worth $18,835,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of HZO. Canada Pension Plan Investment Board bought a new position in shares of MarineMax during the 2nd quarter valued at approximately $52,000. Bfsg LLC grew its holdings in MarineMax by 19.1% during the third quarter. Bfsg LLC now owns 4,248 shares of the specialty retailer's stock valued at $150,000 after purchasing an additional 681 shares during the period. James Investment Research Inc. purchased a new stake in MarineMax in the third quarter worth $203,000. Price T Rowe Associates Inc. MD raised its stake in shares of MarineMax by 17.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,158 shares of the specialty retailer's stock valued at $205,000 after buying an additional 924 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its position in shares of MarineMax by 5.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,251 shares of the specialty retailer's stock valued at $267,000 after buying an additional 408 shares during the last quarter. Hedge funds and other institutional investors own 92.85% of the company's stock.

MarineMax Price Performance

Shares of HZO stock traded down $0.16 on Friday, reaching $28.97. The company's stock had a trading volume of 276,454 shares, compared to its average volume of 310,269. The company has a market capitalization of $646.55 million, a P/E ratio of 13.47 and a beta of 1.82. MarineMax, Inc. has a 12-month low of $22.51 and a 12-month high of $39.85. The stock's 50 day simple moving average is $31.96 and its 200-day simple moving average is $31.06. The company has a quick ratio of 0.36, a current ratio of 1.20 and a debt-to-equity ratio of 0.37.

MarineMax (NYSE:HZO - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The specialty retailer reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.06. MarineMax had a return on equity of 6.26% and a net margin of 2.00%. The firm had revenue of $563.10 million for the quarter, compared to analysts' expectations of $576.49 million. During the same quarter last year, the firm posted $0.69 EPS. The company's revenue was down 5.3% compared to the same quarter last year. As a group, equities analysts predict that MarineMax, Inc. will post 2.06 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Benchmark started coverage on MarineMax in a research note on Tuesday, October 15th. They issued a "buy" rating and a $40.00 price objective on the stock. Stifel Nicolaus raised their price objective on shares of MarineMax from $35.00 to $40.00 and gave the stock a "buy" rating in a report on Friday, July 12th. DA Davidson boosted their target price on shares of MarineMax from $34.00 to $37.00 and gave the company a "buy" rating in a report on Wednesday, July 24th. Truist Financial lifted their price target on MarineMax from $35.00 to $44.00 and gave the company a "buy" rating in a research report on Friday, July 26th. Finally, StockNews.com cut MarineMax from a "hold" rating to a "sell" rating in a report on Tuesday, September 3rd. One analyst has rated the stock with a sell rating and six have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $41.83.

MarineMax Company Profile

MarineMax, Inc operates as a recreational boat and yacht retailer and superyacht services company in the United States. It operates in two segments, Retail Operations and Product Manufacturing. The company sells new and used recreational boats, including pleasure and fishing boats, mega-yachts, yachts, sport cruisers, motor yachts, e-power yachts, pontoon boats, ski boats, jet boats, and other recreational boats.